Applicable Interest Rates. (a) Each advance of the Revolving Loan shall bear interest until maturity (whether by acceleration, declaration, extension or otherwise) at the Applicable Rate as determined in accordance with the provisions of this Section. (b) Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, at the option of Lender, all advances of the Revolving Loan and all other Obligations shall bear interest at the Post-Default Rate. (c) The Applicable Margin shall be 125 basis points per annum unless and until a change is required by the operation of Section 2.3(d). (d) Changes in the Applicable Margin shall be made not more frequently than quarterly based on the Pricing Ratio, determined by Lender subsequent to its review of the quarterly reports required by Section 6.1.1
Appears in 1 contract
Samples: Financing and Security Agreement (Gp Strategies Corp)
Applicable Interest Rates. (a) Each advance of the Revolving Loan shall bear interest until maturity (whether by acceleration, declaration, extension or otherwise) at the Applicable Rate as determined in accordance with the provisions of this Section.
(b) Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, at the option of Lender, all advances of the Revolving Loan and all other Obligations shall bear interest at the Post-Default Rate.
(c) The Applicable Margin shall be 125 300 basis points per annum unless and until a change is required by the operation of Section 2.3(d).
(d) Changes in the Applicable Margin shall be made not more frequently than quarterly based on the Pricing Ratio, determined by Lender subsequent to its review of the quarterly reports required by Section 6.1.17.1.1
Appears in 1 contract
Samples: Financing and Security Agreement (Gp Strategies Corp)
Applicable Interest Rates. (a) Each advance of the Revolving Loan shall bear interest until maturity (whether by acceleration, declaration, extension or otherwise) at the Applicable Rate as determined in accordance with the provisions of this Section.
(b) Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, at the option of Lender, all advances of the Revolving Loan and all other Obligations shall bear interest at the Post-Default Rate.
(c) The Applicable Margin shall be 125 275 basis points per annum unless and until a change is required by the operation of Section 2.3(d).
(d) Changes in the Applicable Margin shall be made not more frequently than quarterly based on the Pricing Ratio, determined by Lender subsequent to its review of the quarterly reports required by Section 6.1.1
Appears in 1 contract
Samples: Financing and Security Agreement (Gp Strategies Corp)
Applicable Interest Rates. (a) Each unpaid advance of the Revolving Loan shall bear interest until maturity (whether by acceleration, declaration, extension or otherwise) at the Applicable Rate as determined in accordance with the provisions of this Section.
(b) Notwithstanding the foregoing, following the occurrence and during the continuance of an Event of Default, at the option of Lender, all unpaid advances of the Revolving Loan and all other Obligations shall bear interest at the Post-Default Rate.
(c) The Applicable Margin shall be 125 basis points per annum unless and until a change is required by the operation of Section 2.3(d).
(d) Changes in the Applicable Margin shall be made not more frequently than quarterly based on the Pricing Ratio, determined by Lender subsequent to its review of the quarterly reports required by Section 6.1.1
Appears in 1 contract
Samples: Financing and Security Agreement (Gp Strategies Corp)